Sunday, 21 October 2018
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--

Gold Is Escaping The 'December Curse' But Silver Isn't - Analyst
Tuesday, 5 December 2017 19:58 WIB | GOLD CORNER |Gold OutlookGold Corner

Gold is unlikely to end the year at yearly lows, but it won't be able to escape the December curse entirely, according to one commodity analyst.

Since 2013, gold has carved out a fairly familiar year-end pattern with prices falling to or near yearly lows in December. And during the last month of 2015, gold hit multi-year lows, which has now become the floor in a new bull market for many analyst.

Andrew Hecht, creator of the Hecht Commodity Report, said that negative sentiment is growing in the gold market as prices hover near the bottom end of a narrow range. However, he added that the market is in a very different shape than it was during the past two years.

œIt is possible that as the dollar is a lot closer to the lows than the highs this year, precious metals will not repeat their price action of the previous two years, he said in a recent commentary. œGold is going into the final month of 2017 with a strong and bullish tone compared to the price action at the end of 2015 and 2016. Higher rates are likely weighing on the yellow metal while the price action in the dollar and geopolitical landscape combine to provide support for the price of the precious metal that thrives during times of fear and uncertainty.

Despite struggling in its narrowest trading range in more than a decade, gold has shown some resilience, as prices remain up 10% since the start of the year. February gold futures last traded at $1,248.30 an ounce, down 0.31% on the day.

While gold is ending the year with bullish potential, Hecht also warned that it does face headwinds like a weaker silver market.

In 2017, silver has struggled and is currently flat on the year. March silver futures last traded at $16.37 an ounce, down 0.14% on the day.

œMany market participants have thrown in the towel in silver and the metal is not attracting speculative demand in the current environment. The weakness in silver could continue to weigh on the price of gold, he said.

Source: Kitco News

RELATED NEWS
Gold Rally Rolls On...
Tuesday, 16 October 2018 04:14 WIB

Pada hari Jumat kami mengajukan pertanyaan - bisakah rally emas berlanjut? Pasar telah berbicara dengan kata ya. Emas diperdagangkan di level setinggi $ 1,237 pagi ini. Tingkat kunci berikutnya untuk...

What Would Trigger A "Tremendous Bull Rally" In Gold?...
Monday, 8 October 2018 20:56 WIB

Emas kan menghadapi tantangan dalam waktu dekat, tetapi beberapa tahun ke depan, pengetatan yang berlebihan oleh Fed dapat mengirim ekonomi ke dalam resesi dan mendorong harga emas naik secara substan...

TDS Looks For $1,300/Oz Gold Prices By End Of 2019...
Tuesday, 2 October 2018 21:22 WIB

Harga emas mungkin tetap di bawah tekanan dalam waktu dekat tetapi kemungkinan akan rally pada akhir tahun dan 2019 dengan bantuan pelemahan dolar AS pada akhirnya dan banyak faktor lainnya, kata TD S...

Gold Expected To Gain Some Luster After Fed...
Monday, 24 September 2018 11:35 WIB

Wall Street dan Main Street keduanya melihat harga emas untuk naik minggu ini, berdasarkan survei emas mingguan Kitco News. Rapat Komite Pasar Terbuka Federal AS diperkirakan akan menaikkan sebesar s...

All Signs Point To Upside For Gold - Expert...
Tuesday, 18 September 2018 04:47 WIB

Emas telah diperdagangkan dalam kisaran terkompresi sepanjang minggu tetapi logam kuning memiliki peluang lebih tinggi untuk menembus ke atas daripada bergerak ke bawah, kata Todd "Bubba" Horwitz dari...

POPULAR NEWS
Stocks Open Lower on Hawkish Fed Minutes, China Rout

Stocks opened on a weak note Thursday, with...

Dow sheds more than 300 points, while Nasdaq ends lower by 2%

U.S. stocks finished lower on Thursday as fears...

LATEST NEWS
Shanghai Stocks Rally after Supporting Remarks (Review)

Shanghai stocks rebounded from early losses to surge more than two percent Friday after top economic officials made rare coordinated statements aimed at shoring up investor confidence in the country's troubled markets. The benchmark Shanghai...

Stocks end mixed; Nasdaq suffers 0.6% weekly fall

Stocks saw a mixed finish to a choppy session Friday, with the Dow Jones Industrial Average taking back a modest portion of the previous session's more-than-300-point decline. The tech-heavy Nasdaq Composite lagged behind, falling 0.5% to finish...

Euro finds footing as EU softens Italy criticism

Foreign exchange markets reflected an improvement in risk sentiment after sluggish data on Chinese economic growth was offset by words of support Chinese authorities on Friday. Also, a European Union official attempted to ease tensions with Italy...